SPY vs SYZ
State Street SPDR S&P 500 ETF Trust vs Lazard US Systematic Small Cap Equity ETF
Which is better, SPY or SYZ?
Large Cap Blend against Small Cap Blend.
SPY has a lower expense ratio. SYZ led over 1Y. SYZ is less concentrated, with 7.3% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | SYZ |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.61% |
| AUM | $804.7B | - |
| Dividend Yield | 0.98% | 0.24% |
| Holdings | 505 | 386 |
| YTD Return | +11.97% | +16.89%Best |
| 1Y Return | +16.40% | +18.67%Best |
| 3Y Return (annualized) | +21.10% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 13.3%Best | 14.2% |
| Top 10 Weight | 37.8% | 7.3%Best |
| Fund Family | State Street Investment Management | Lazard Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | Jan 22, 1993 | Oct 29, 2021 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
SPY vs SYZ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs SYZ Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Lazard US Systematic Small Cap Equity ETF (SYZ) is an ETF from Lazard Asset Management. Over the past year SPY returned +16.40% while SYZ returned +18.67%. Year to date, SPY is up 11.97% versus a gain of 16.89% for SYZ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SYZ has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 13.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while SYZ charges 0.61%. On a $10,000 position that is $9 vs $61 annually, a gap of $52 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.24% for SYZ.
Holdings Overlap
0.5% of SPY's money is in holdings SYZ also owns. 6.5% of SYZ's money is in holdings SPY also owns.
SYZ and SPY share little of their money.
26 positions in common, counted across the 504 positions we hold weights for in SPY and 430 in SYZ, against full books of 505 and 386.
What only one of them owns
Our book lists 351 positions for SYZ that do not appear in our book for SPY (83.6% of the fund), and 471 for SPY that do not appear in SYZ (98.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in SYZ | Difference |
|---|---|---|---|
| DECKDeckers Outdoor Corp | 0.02% | 0.51% | 0.49% |
| GDDYGodaddy Inc. Class A | 0.02% | 0.47% | 0.45% |
| TRMBTrimble Inc. | 0.02% | 0.41% | 0.39% |
| GENGen Digital Inc | 0.03% | 0.39% | 0.36% |
| PTCPtc Inc | 0.03% | 0.39% | 0.36% |
| PODDInsulet Corporation | 0.02% | 0.39% | 0.37% |
| NWSANews Corp A | 0.02% | 0.37% | 0.35% |
| UHSUniversal Health Services Inc. | 0.01% | 0.37% | 0.36% |
| SWKStanley Black Decker Inc. | 0.02% | 0.32% | 0.30% |
| AIZAssurant, Inc. | 0.02% | 0.27% | 0.25% |
You are not choosing between two funds in isolation.
Whichever of SPY and SYZ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or SYZ?
SPY has an expense ratio of 0.09% while SYZ charges 0.61%. SPY is the cheaper option, by $52 a year on a $10,000 investment.
Which performed better, SPY or SYZ?
Over the past year SPY returned +16.40% vs +18.67% for SYZ, so SYZ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or SYZ?
SYZ has been the more volatile fund at 14.2% annualized versus 13.3% for SPY.
Should I hold both SPY and SYZ?
SPY and SYZ have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and SYZ?
6.5% of SYZ's money is in holdings SPY also owns. 6.5% of SYZ's is in holdings SPY also owns. They hold 26 positions in common, counted across the 504 positions we hold weights for in SPY and 430 in SYZ.
Which pays a higher dividend, SPY or SYZ?
SPY yields 0.98% while SYZ yields 0.24%, so SPY currently pays the higher dividend yield.
Is SYZ better than SPY?
SPY has a lower expense ratio. SYZ led over 1Y. SYZ is less concentrated, with 7.3% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.